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California Revolving Loan Fund + PACE = Success

Creating a revolving fund to finance clean energy and energy efficiency projects could dramatically increase the economic impact of Proposition 39 — the California Clean Energy Jobs Act — to well over $1 billion, and create an estimated 21,000 green jobs in the Golden State, according to a study conducted for the Los Angeles Business Council Institute by a research team at UCLA.

The UCLA research team recommends that the public revolving loan fund integrates with and/or complements existing grant programs for energy projects, such as On-Bill Repayment and Property Assessed Clean Energy (PACE) programs. The report also references existing state and private funds that have either been depleted or need to be expanded, all of which could be replenished with capital from the fund. Read more.